Cathie Wood’s ARK Investment Management sold shares of Advanced Micro Devices on July 17 while buying into SpaceX and several other companies. The moves signal a repositioning across ARK’s portfolio.
ARK sold 23,573 AMD shares valued at approximately $11.7 million, based on the July 17 closing price of $495.76. This is part of a broader trend — ARK has now sold 137,421 AMD shares in July alone, worth around $68.1 million at current prices.
Advanced Micro Devices, Inc., AMD
AMD remains ARK Innovation ETF’s eighth-largest holding despite the ongoing selling. It makes up 4.04% of the fund’s portfolio as of July 16.
The semiconductor stock dropped more than 11% last week. The selloff started with Micron Technology, which came under pressure after reports that Chinese chipmaker ChangXin Memory Technologies is preparing a Shanghai IPO that could raise up to $9.8 billion.
AMD doesn’t compete in the memory market, but investors took profits across the broader semiconductor sector following a strong run this year. Even after the drop, AMD is still up 131.5% year to date.
On the buying side, ARK purchased 147,805 SpaceX shares worth $19.4 million across several ETFs. CoreWeave was also added, with 115,827 shares purchased for around $8.4 million.
ARK also bought shares in Kratos Defense and Security Solutions and AeroVironment, continuing a pattern of investment in defense and aerospace companies.
ARK Innovation ETF is down 3.43% so far in 2026, while the S&P 500 has gained 8.94% over the same period. Over five years, the fund has delivered an annualized return of negative 8.23%, compared to 11.50% for the S&P 500.
The fund saw roughly $1.26 billion in net outflows over the 12 months through July 16, according to ETF research firm VettaFi.
Wood has said she believes technology innovation is having a deflationary effect on the economy, particularly through artificial intelligence. She argues this will lead to falling inflation, lower interest rates, and stronger growth — conditions she says favor innovation stocks.
AMD has its own catalyst coming up. CEO Lisa Su is expected to unveil the MI450X accelerator and MI500 GPU family at the company’s Advancing AI 2026 event on July 22 and 23.
UBS recently raised its price target on AMD to $700 from $670, keeping a buy rating. The bank increased its 2027 revenue forecast for AMD to $83.4 billion and raised its earnings estimate to $14.63 per share.
AMD is set to report its next earnings results in August.
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